Construction Receivables
                 Frequently Asked Questions

What is factoring?  How does it work?

Factoring is the purchase of accounts receivable for immediate cash.  Once you have delivered a product or performed a service for a creditworthy corporation or institution, contact us prior to sending your invoice to your customer.  We will confirm with your customer that the work has been completed or the goods delivered and accepted, we will advance you 60%-70% of the face value of the invoice amount in cash.  When your customer pays us, you will receive the balance less our discount.

Do I need accounts receivable financing?

Yes, if you are a new business.  Yes, if you are a business that can't get traditional financing, such as a small or medium size business or a minority or woman owned business.  Yes, if you need additional operating capital.  Yes, if you want to solve your cash flow problems.

How do I qualify?

We base our credit decision on the strength of your customers, not you.  It's easy to qualify if you meet the following criteria:  Your customer must be a credit worthy business.  Your invoice must be a valid one for goods sold and delivered or services rendered...to your customer's satisfaction.

What does it cost?

Once your information is received and reviewed a free proposal will be issued quoting a discount fee.  The discount fee is determined by the number of days that elapse from the day we advance funds to you until the day we are paid back by your customer.  We earn our fee only after we have collected payment on an invoice..not before.

How will I know which invoices are paid and which are not?

You will have your own account executive whom you can call at any time for updated information.  Just request and "Aging Schedule" which will show you which invoices have been paid and which remain open.

How fast can I get money?

In many states it takes as little as one week or less to get on line.  Once on line, we can fund your invoices within 24 hours (once we received verification of your invoices)

Who can benefit from Factoring?

Contractors, subcontractors, suppliers and every other small to medium-size construction-related business can benefit from factoring.

How can the "Quick Cash" available through factoring be used?

Construction-related businesses can use the funds available to them through factoring to pay their workers, make tax, worker's comp, union dues and insurance payments... and buy the materials necessary to complete their jobs.  It can help a business that is facing a cash flow, survive - and it can help a business grow by providing the funds needed to go after new jobs and new markets.

What are some other advantages of factoring?

• Speed.  A business that finds itself in a cash crunch may receive its funding in as little as 24 hours;
• No monthly payments.  Since the business does not actually borrow any money, it makes no monthly payments.
• Continuous cash flow.  Factoring provides a business with cash whenever it is needed.
• Relies on the financial strength of customers.  Factoring offers businesses the chance to grow by providing them with access to funds they can use to bid on other jobs, get new customers, go into new markets and increase their scope.
• Accessible to unbankable businesses.  Any business with account receivable can qualify for funding through factoring.

How do I get started?

In order to get you on line, submit your Accounts Receivable Aging Schedule as well as a customer list, with the brief online application.  Once we analyze your receivables and express an interest in proceeding with your funding, we need you to fill out a 2-page application as well as a copy of your Certificate of Incorporation and a $750  Due diligence check in order to do lien searches, etc.  It's that simple!